Cardano is gaining more potential after been unveiled by EMURGO that the cryptocoin, Ada is now acceptable on Metaps Plus, a dependable and of the largest mobile payment platform in the whole of South Korea. The development makes Cardano the first cryptocurrency to be integrated into a mobile payment platform and may see it reach 1USD once it is fully installed on the platform.
EMURGO, in a statement, reflected that it would be integrating Cardano token into Metaps Plus payment platform, which performs over 10 million mobile to offline transactions.
“This strategic partnership entails integrating Ada token into Metaps Plus’s mobile marketing and mobile payment platforms which delivers 1 billion mobile app downloads through its marketing app download platform and 10 million mobile to offline transactions per year across over 40,000 offline stores,” the statement maintained.
Ada Drifts to 33,000 Offline Stores, Soon To Reach 1USD
The latest development will make Ada token to be used in over 33,000 offline franchise stores and promotions which are partners with named franchises who are current Metaps Plus’s partners by Q3, 2018. With the growing number of shops that will be using ADA anytime soon, the sky is not even the limit for the cryptocurrency.
Speaking on the latest partnership, Ken Kodama, CEO of EMURGO said, “our partnership with Metaps plus will allow Ada to expand more rapidly and be recognized eventually as a new way for payment settlement in the Korean market. I am very excited to be able to open a new era together through this platform.”
In the same line, Charles Hoskinson, CEO of IOHK who weighed in on the collaboration said, “It is great that Ada will be able to be used for everyday purchases in South Korea, a country where there is a passionate Cardano and cryptocurrency community. I hope that this development will encourage the adoption of cryptocurrency even further.”
The partnership, according to Michael Parsons, Chairman of Cardano Foundation means “immediate digital payments or settlements, with little to no fraud, can soon take place in Korea, a country that has a pioneering history of innovation and early adoption of new technologies.”
However, in the view of Seungyeon Kim, CEO of Metaps Plus, the collaboration brings more excitement to Metaps team and will increase its focus on delivering incremental sales and value to our offline and platform partners along with Ada coin owners.
Delivering 1 billion mobile app download and 10 million mobile-to offline transactions per year on mobile, Metaps Plus is a full stack fintech company and among the first firm in Korea to go into ICO with Korea based entity. The company centers on linking digital currencies into everyday use with the new and existing platform and mobile infrastructure layer.
Meanwhile, EMURGO, which was founded in 2017, is a Japan-based venture capital that is developing, supporting, and incubating commercial ventures while at the same time helping businesses integrate Cardano’s decentralized blockchain ecosystem.
Cardano In Ethiopia
Last week, Cardano signed a Memorandum of Understanding (MoU) with Ethiopian Ministry of Science and Technology. Charles Hoskinson, team lead developer at Cardano foundation, also a co-founder of IOHK, made the announcement saying the MoU will promote the presence of blockchain technology in the country, and Africa at large.
At the same time, the MoU includes training of blockchain developers on how to integrate Cardano to financial platforms.
“Just signed an MoU with the Ethiopian Ministry of Science and Technology to explore training blockchain developers and use Cardano in the Agritech Industry,” Hoskinson aired. More so, Cardano use cases would be researched in the country, especially in Agritech Industry.
Cardano In the Market
The cryptocurrency seems to be a bit bearish, after a northward move last week. Now, Cardano has a trading value of 0.320, decreasing by 14.55% in the last 7 days, and 0.84% in the last 24 hours. At present, Cardano’s market cap is at $8,289,121,800, with a 24 hour trading volume of $110,604,000. It remains among the 10 top coins, seating at the 7th position according to Coinmarketcap.
Just like other coins in the top, Cardano is trying to maintain balance.
However, once it is installed on Metaps, there is a possibility it rises to an all-time high price, due to the number of users that the token will have afterward.
Conclusion: Although, the cryptocurrency world is pegged at a certain level for some days now, however, it is expected that Cardano’s latest development may see it rise any time from now.